Michael Horwitz Of Cross Street Real Estate Represents Buyer In Chicago Multifamily Sale For $1.025M
2220 West Giddings Street
$1,025,000
Building Size
—
Asset Type
MultiFamily
Closing
Sep 3, 2024
AI
The two-flat property at 2220 West Giddings Street in Chicago is a multifamily asset that sold for $1,025,000. The all-brick building features a 5-bedroom/2-bath duplex down and a 3-bedroom/1-bath unit on the top floor, offering versatile living or investment options in the Lincoln Square neighborhood.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,025,000
- Address: 2220 West Giddings Street
- Market: Chicago
- Buyer's Representative: Michael Horwitz - Cross Street Real Estate
- Seller's Representatives: David Miller & Daniel Close - Redfin
Michael Horwitz represented the buyer in this transaction, while the seller was represented by David Miller and Daniel Close, both of whom are affiliated with Redfin. The deal reflects a successful collaboration between the representatives and showcases the dynamics of the local real estate market.
Players
Chicago MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
15.48%
Cash-on-Cash
-4.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93